Delaney Dennis R Buys Shares of 38,000 Iovance Biotherapeutics, Inc. $IOVA

Delaney Dennis R acquired a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 38,000 shares of the biotechnology company’s stock, valued at approximately $65,000.

Several other institutional investors have also recently made changes to their positions in the business. Aberdeen Group plc lifted its stake in shares of Iovance Biotherapeutics by 291.7% in the 2nd quarter. Aberdeen Group plc now owns 516,289 shares of the biotechnology company’s stock worth $888,000 after purchasing an additional 384,489 shares during the period. Grimes & Company Inc. increased its holdings in Iovance Biotherapeutics by 17.6% in the 2nd quarter. Grimes & Company Inc. now owns 37,839 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 5,672 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after acquiring an additional 3,869,617 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock worth $18,554,000 after acquiring an additional 1,301,846 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Iovance Biotherapeutics in the 1st quarter worth approximately $51,000. Institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IOVA. Chardan Capital reduced their target price on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 8th. The Goldman Sachs Group downgraded Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 15th. Zacks Research upgraded Iovance Biotherapeutics to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company dropped their price target on Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Iovance Biotherapeutics has an average rating of “Hold” and an average price target of $11.90.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $2.10 on Monday. The stock’s 50-day simple moving average is $2.32 and its 200-day simple moving average is $2.43. The firm has a market capitalization of $759.89 million, a price-to-earnings ratio of -1.71 and a beta of 0.83. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. The company had revenue of $59.95 million during the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.